In the past week, the Chinese steel pipe market has seen a stable trend for seamless pipe prices, while local prices of welded pipes have mostly moved sideways though indicating some slight downticks also.
As of November 27, in China's three main steel markets, i.e., Shanghai, Guangzhou and Beijing, the average price of 20# (GB/T8162-1999) grade 108 mm x 4.5 mm seamless pipe now stands at $567/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $599/mt. Meanwhile, on the same date, Q195-215 grade 48 mm x 3.25 mm welded pipe and Q215-235 grade 114 mm x 3.75 mm welded pipe prices in the above markets are standing at $501/mt and $509/mt respectively. All the above prices include 17 percent VAT.
The local Chinese seamless pipe market has followed a stable trend during the past week, while overall trading activity in the market has been slack. Billet prices, meanwhile, have remained mainly unchanged. Most traders' inventories are on the low side. For the coming week, the stable trend in the market is expected to continue.
In the past week, domestic welded pipe prices in China have mostly indicated stable movement, though with prices of certain products softening slightly. Upstream steel strip prices have seen slight downticks, while welded pipe supply volumes have increased since production volumes have returned to normal levels. Although traders are generally keeping their prices stable, at the same time they are offering some discounts. Slight decreases are expected to be seen in local Chinese welded pipe prices in the coming week.